Daily Trend Analysis: Bitcoin rose about 4000 points yesterday, then fell about 1200 points at the 97,300 resistance level pointed out in our previous day's analysis. In terms of price structure, a V-shaped reversal has formed on the hourly level. Technically, the daily chart shows a bottom reversal pattern, but fundamental news and MACD indicators suggest that risks still exist, leading to a contradiction. Today's trading suggestion: Be cautious of false bullish trends. ETH faces pressure from a bearish butterfly pattern, pay attention to the resistance in the 1890-1906 range. Yesterday's Review: The two key positions given in yesterday's analysis were perfectly validated: 1. Bitcoin retreated at the 97,300 resistance level, confirming the effectiveness of that point as resistance. 2. Ethereum rebounded precisely from the 1750 support level (the lower boundary of the consolidation zone), and has now risen more than 100 points.
Resistance Level 1: 98400 (Bearish Shark 1.13 false breakout position + key resistance on hourly level)
Resistance Level 2: 102500 (Bearish Shark target + 0.786 Fibonacci retracement level)
Support Level 1: 96050 (Hourly EMA30 + 4-hour EMA7 overlap area + 0.382 Fibonacci retracement level)
Support Level 2: 95500 (Hourly EMA60 + 4-hour EMA30 + 0.5 Fibonacci retracement level)$BTC
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